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All posts in General Questions

1) Time series methods base forecasts only on past values of the variables.

a) True

b) False

2) A random variable that can take on any value along a line segment is a discrete random variable

a) True

b) False

3) The process of decision making is more limited than that of problem solving

a) True

b) False

4) Quantitative forecasting methods do not require that patterns from the past will necessarily continue in the future

a) true

b) false

Customers arrive at Homestake Bank between the hours of 10 A.M. and 11 A.M. according to a Poisson distribution at a mean rate of 40 per hour. During the period from 10 A.M. to 11 A.M. the bank has 3 tellers working. The average time a teller spends with a customer is 3 minutes, and service time follows an exponential distribution. What is the average time a customer will spend waiting in line before seeing a teller?

As the training manager, you are preparing to interview several consultants who may provide training services to your organization. One of the goals for the interview is to find out how the training will be evaluated and validated. Identify specific points that you will consider as effective evaluation techniques and methods for validating the training.

Describe some of the techniques you would expect the consultants to introduce when they describe the ways in which they plan to evaluate and validate the training. What would be your most important considerations as you decide which consultant to hire? How would you see them integrating technology in the processes of gathering or analyzing data? Provide examples.

Task One:
1. Name three selection tools that you would consider using for a hiring program at a supermarket.
2. Choose what you think is the best selection tool or combination of selection tools.
3. Justify your choice by describing the advantages of your method compared to other selection tools that were considered.

Task Two:
1. Compile a list of interview questions for a chemical engineer.
2. Explain what interviewing method you would use and why it is preferred over others.
3. Detail the considerations in reaching hiring decisions for this position.

Manychip, having identified the appropriate location for its major production facility, now wants your team to determine the optimal internal layout for the facility based on the following criteria:

– The facility will manufacture several lines of memory chips, some with compatible components and some that do not have compatible components
– The facility will also house an administrative support workgroup that will receive and process orders, bill customers, and provide payroll/HR support for the local workforce.
– The facility will also be responsible for shipping to national, international, and local customer locations.

Using course materials and other research:
1. There are four types of potential layouts: product-based, functional, cellular and fixed-position layouts. Divide the work up with equality among individual team members so that each of the listed layouts is defined from an academic context and it is specified how it might apply to Manychip’s facility.
2. Discuss your justification and choice for the most appropriate method for Manychip, and come to a consensus.
3. Finally, determine the most appropriate optimization models of the chosen layout(s). In other words, identify the best methods that Manychip can use to optimize workflow amongst those methods (individual layout types).